Streetbeat News

LOCL

Local Bounti Corporation

Industry

Agricultural Farm Products

Local Bounti Corporation grows fresh greens and herbs in the United States. It produces lettuce, herbs, and loose-leaf lettuce. The company sells its products to food retailers and food service distributors. Local Bounti Corporation was founded in 2018 and is headquartered in Hamilton, Montana.

Open

2.58

Mkt cap

21M

Volume

4.5K

High

2.58

P/E Ratio

-0.14

52-wk high

4.60

Low

2.41

Div yield

N/A

52-wk low

1.56

Local Bounti Corporation (NYSE:LOCL), an indoor agriculture company, received a notice from the NYSE on April 3, 2024, for not meeting the Minimum Market Capitalization Standard. The company's market capitalization and stockholders' equity were both below $50 million. Local Bounti plans to submit a compliance plan within 45 days and has 18 months to meet the NYSE's standards. The notice does not immediately affect its stock listing, and the company is exploring options to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 8:33 pm

Local Bounti reported preliminary Q1 sales of $8.4M, below the estimated $10.45M but marking a 22% sequential increase due to enhanced productivity at its Georgia facility.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:26 am

Local Bounti Corporation announced it has received a patent for its proprietary Stack & Flow technology, which could enhance its competitive edge in the agricultural tech sector.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:23 am

Local Bounti (NYSE:LOCL) reported Q4 adjusted EPS of $(3.35), missing the $(2.43) estimate, and sales of $6.87M, missing the $8.70M estimate. This represents a 14.1% increase in losses and a 3.43% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:22 am

Earnings reports for March 27, 2024, include a mix of projected losses and earnings across various sectors. Notable companies like Cintas and Lands' End are expected to report earnings, while others like Local Bounti and REE Automotive anticipate losses. The diversity of industries, from biotechnology to retail, highlights the varied financial health within the market.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 9:02 am

Local Bounti (NYSE:LOCL) is anticipated to release its quarterly earnings report on March 27, 2024, with an expected EPS of $-2.41. Despite past earnings misses, the company's stock price has shown volatility post-earnings announcements. Over the last year, LOCL shares have declined by 66.43%, trading at $2.82 as of March 25. Investors are keen on the upcoming earnings and particularly on the company's future guidance.

Portfolio Pulse from Benzinga Insights

March 26, 2024 | 5:01 pm

Local Bounti Corporation (NYSE:LOCL), a U.S. indoor agriculture company, announced it received a patent for its Stack & Flow Technology from the United States Patent and Trademark Office on February 13, 2024. This technology, utilized in four of its six growing facilities, combines vertical and greenhouse growing methods to enhance productivity and efficiency, offering superior unit economics across the production cycle. The technology allows for reduced facility square footage, lower capital and operating expenses, higher labor efficiency, and higher yield, positioning Local Bounti for competitive advantage in the market.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:04 pm

Local Bounti Corporation announced that Chairman Craig Hurlbert will take over as CEO, effective immediately, replacing Anna Fabrega. The company also revised its FY23 sales forecast to $28 million, which is lower than the estimated $30.57 million. Additionally, the company anticipates saving about $3.2 million annually due to these changes.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:10 pm

Wynn Resorts, Limited (NASDAQ:WYNN) shares dropped by 8.1% despite reporting higher than expected third-quarter revenue and earnings per share. The company's revenue was $1.67 billion, surpassing the consensus estimate of $1.585 billion, and adjusted EPS was 99 cents, beating the estimate of 75 cents. The article also lists other stocks that moved in the mid-day session, with various companies experiencing significant gains or losses after reporting their financial results, guidance updates, or other corporate actions.

Portfolio Pulse from Lisa Levin

November 10, 2023 | 6:34 pm

Insiders at four companies, Local Bounti Corporation (LOCL), CalciMedica, Inc. (CALC), Gannett Co., Inc. (GCI), and BrightRock Gold Corp. (BRGC), have recently made notable purchases of their companies' stocks. This could indicate their confidence in the companies' prospects. However, each company has faced challenges recently, including downgrades, wider losses, worse-than-expected revenues, and stock declines.

Portfolio Pulse from Lisa Levin

November 07, 2023 | 1:42 pm

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